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Feb 16, 2013 6:00am EST
. that was true in aig which ran most of its swaps business out of mayfair, a part of london, but it was also true at lehman brothers, citigroup, bear stearns, long-term capital management. i think failing to incorporate this basic lesson of modern finance into our oversight of swaps market would not only fall short of your direction to the cftc and dodd/frank but i also think it would leave the public at risk. i believe dodd/frank reform does apply and we have to complete the rules to apply to transactions entered into branches of u.s. institutions offshore off if they're guaranteed affiliates offshore transacting with each other or even if it is a hedge fund that happens to be incorporated hedg incorporated in an island ar off shore but really operated here. i'd like just to turn with the remaining minute to these cases the cftc brought on live war because it's so much of our 2013 agenda. the u.s. treasury collected $2 billion from the justice department in cftc fines. but that's not the key part of this. what's really important is ensuring financial market integrity. when a reference rate such
Search Results 0 to 0 of about 1